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May 10, 2012
"It is democracy that is causally responsible for the fatal conditions afflicting us now. "
The number of productive people is constantly decreasing, and the number of parasitic people consumingthe income and wealth of this dwindling number of productive people is increasing steadily.... That the whole democratic house of cards has not yet completely collapsed speaks volumes about the still tremendous creative power of capitalism, even in the face of ever-increasing governmental strangulation. And this fact also can make us think about what economic wonders would have been possible, if we had left capitalism unimpeded and exempted it from such parasitism. -- Interview with Professor Hans-Hermann Hoppe â Producers against parasites
Posted by gerardvanderleun at May 10, 2012 10:56 AM. This is an entry on the sideblog of American Digest: Check it out.
Your Say
Sen Phil Graham said it years ago: We've got too many people riding in the wagon while fewer and fewer are pulling the wagon.
Posted by: Scott M at May 10, 2012 12:47 PM
Unimpeded capitalism is also not acceptable. Monopolies are an inevitable part of it, when talking about industries that require expensive equipment, just for a start.
Posted by: Fletcher Christian at May 10, 2012 2:08 PM
Hey Fletch, how do you know? Seems like the only people complaining about monopolies are ones who complain that life isn't fair. It's zero-sum economics to complain about monopolies. If they charge more than what they are worth, in a dynamic, non-government-protected economy, the monopoly will be broken in short order.
Posted by: John A. Fleming at May 10, 2012 3:22 PM
Inevitable monopolies? That old canard? Good grief.
Posted by: pst314 at May 10, 2012 7:50 PM
I find the difference between a monopoly and a cartel to be more theoretical than real.
"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices."
That's from Adam Smith, hardly a Left-winger. And it's true.
Posted by: Fletcher Christian at May 11, 2012 7:06 AM
The great monopoly in the West has been government for quite some time. This obvious fact is hidden from all small minds. Until 1933, America evolved on the anvil of business--ambition against ambition. When government becomes the great power the ambition is to become part of it. Business monopolies are then formed within sectors such as Big Pharma, who conduct a symbiotic relationship with the State.
Posted by: james wilson at May 11, 2012 9:57 AM
Wilson, from now on I shall crib from you.
Posted by: Casca at May 11, 2012 6:05 PM
Regarding the Adam Smith quote, yes that is true that businesses try to form voluntary alliances to squelch competition. But it never works because they can't stop other more able competitors from entering the market. Unless of course the incumbent companies can get the government to squelch competition. Adam Smith was against the artificial monopolies of the mercantilist system.
Posted by: CBDenver at May 12, 2012 7:05 PM
The elites prefer consumers instead of producers because consumers are easier to control.
Posted by: Alan Kellogg at May 16, 2012 8:46 PM